NEW YORK, Jan. 28, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of MagnaChip Semiconductor Corporation ("MagnaChip" or the "Company")(NYSE: MX). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 237.
The investigation concerns whether MagnaChip and certain of its officers and/or directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On January 27, 2014, the Company filed a Form 8-K with the Securities and Exchange Commission ("SEC"), announcing the postponement of its fourth quarter 2013 earnings release and investor conference call to provide additional time for the Company to complete its review of its financial results for the fourth quarter and full year 2013.
On this news, shares of MagnaChip fell $0.34 per share, or more than 1.94% on intraday trading to a price of $17.23 on January 28, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
SOURCE Pomerantz LLP
